Ademi LLP is investigating whether the proposed transaction of Priority (NASDAQ: PRTH) by an investor group led by Thomas Priore, Priority’s Chairman and Chief Executive Officer, provides fair value to Priority’s public shareholders and whether Priority’s Board adequately protected shareholder interests in negotiating and approving the transaction.
What Is Ademi LLP Investigating?
- The exchange ratio and whether it adequately reflects Priority’s value and future prospects;
- Substantial change-of-control benefits available to Priority insiders in connection with the transaction;
- Restrictions on competing transactions, including a significant termination penalty that may discourage another potential buyer from making a superior proposal; and
- The conduct of Priority’s Board of Directors in negotiating and approving the transaction and whether the Board fulfilled its duties to public shareholders.